Tim Miller, the executive director of the UK gambling regulator, the Gambling Commission, recently highlighted the ongoing efforts to combat gambling harm and addiction. In a speech, recognizing the launch of the Gambling Harms Action Lab by Money Mental Health earlier this week, the executive pointed to the extensive efforts that seek to protect the wellbeing of consumers and reduce problem gambling.
Banks Help in the Combat Against Gambling Harm
Miller acknowledged the importance of the launch of the Gambling Harms Action Lab, recognizing the initiative as a “huge step forward” in helping address and prevent gambling harm. He explained that this innovative initiative follows years of hard work, praising milestones such as the National Strategy to Reduce Gambling Harms published in 2019, as well as the extension of those efforts that have become a part of the review of the Gambling Act.
The Gambling Commission’s executive explained that regulation represents an important part in the fight against problem gambling, but equally as important are effective collaborations with the industry, charities, as well as financial institutions such as banks.
As an example, Miller said that the dedication of licensed operators to offer limits and self-exclusion options provides much-needed assistance in protecting customers from excessive gambling. Moreover, he added that the implementation of blocks of gambling-related transactions by some banks also impacts positively that process and ensures that the “consumers have access to a much stronger toolkit of protective measures.”
Evidence-Based Changes to Help Identify Problem Gambling, Protect the Consumers
The chief executive explained that the Gambling Commission invests in research and data collection that helps it better understand the causes of problem gambling and harm. Miller also spoke about the recent launch of the Gambling Survey for Great Britain. In that line of thought, back in October, the gambling regulator reiterated its plan to fight unlicensed gambling.
While collecting data is important, Miller added that changes to the sector need to be evidence-based. This can ultimately help raise the standard for the entire sector, something that the Gambling Commission continues to support. Connecting those efforts to the recently launched initiative, the executive added: “That is very much what I hope the Action Lab will be able to deliver – using the extensive understanding of consumer behaviors and experiences that financial services have to build an ever-stronger evidence base to identify consumer protections and interventions that actually work.”
Recently, the UK explored options for a potential tax hike. However, the effort didn’t make it into the Autumn Budget, enabling betting and gaming operators to continue paying the same tax rate as before. Still, this doesn’t mean that there won’t be another tax hike in the future.
